Why your business needs ERPs that are GST ready?

The
much-awaited Goods and Services tax came with a lot of hooplas. Where the
experts were claiming to have significant benefits of it in the long run, the
businesses were going for a toss over it. They didn't know the advantages
or process related to it. More the situation became grave when the companies
were technically not ready to welcome this big reform of the Indian taxation system.

Up till now, businesses were computing
tax manually or through standalone software but with the GST on the floor, it
becomes mandatory to employ robust ERP software. The benefits that ERP software brings
to the business regarding own functioning and GST are:

Document management: GST demands transparency, when
businesses manually maintain the track of all inventory, sales, purchase, bank,
and production, there are chances to have some errors. Avoiding all such
mistakes and chances of discrepancies, the ERP software helps you integrate the
various processes and accurately maintain daily records of it. ERP reduces the
chances of duplication of entries, assists in maintaining an appropriate
database which can be referred at the times of claim or returns and make you a
step ahead in being a responsible business.

A step towards digitalization: The GST mandates all your documents like
payments, registrations, refunds and returns to be digital. Here an

ERP software comes as a big savoir. It
eases out this task and is not much tricky in implementation or
operating.

Standardization: GST is initiated with the aim of
clubbing goods and services under one umbrella of tax so that they can move
across the country freely, relieving the manufacturers or producers from
calculating the taxes on different points. To take advantage of this standardization,
ERP software is a must. With ERP, you can
standardize your entire invoice capturing process and enjoy this beneficial
transformation in a very smooth way.

Compliance: Under the GST regime, the compliances
are strict; they are precise and more time-bound. For such order in place, ERP
comes as a big-time help. It allows maintaining hassle-free financial records
and thereby always letting you comply on time.

Certainly,
GST is a well-thought reform whose benefits will be reaped in the long run but
to avail these benefits later; it’s time to step towards automation now. It's
time to buy right ERP software for the business. Remember, being compliant
might attract a cost initially but being noncompliant will attract penalties
bigger than the cost.